Distributor of medical devices from international manufacturers, mainly distribute to hospitals in Thailand and the general public. Our company has 2 main types of the business.
1. Medical Device Sales
1.1 Critical Care Medical Devices
1.2 Respiration Medical Devices
1.3 Cardiology Medical Devices
1.4 General Medical Devices
1.5 Smart Hospital Medical Devices
1.6 Wellness Medical Devices
2. Services
2.1 Maintenance Service
2.2 Rental Service
2.3 Sleep Lab Service
| 9M23 | 9M22 | 2022 | 2021 |
|---|
| Revenues | 585.69 | 1,844.83 | 2,013.79 | 1,622.72 |
| Expenses | 525.62 | 1,473.61 | 1,635.76 | 1,207.35 |
| Net Profit (Loss) | 48.88 | 291.89 | 296.66 | 319.84 |
| Assets | 1,142.47 | 1,266.89 | 1,210.57 | 1,377.12 |
| Liabilities | 178.17 | 242.62 | 182.81 | 479.27 |
| Shareholders' Equity | 964.30 | 1,024.27 | 1,027.76 | 897.86 |
| Operating | 16.40 | 398.67 | 466.09 | 143.26 |
| Investing | -12.50 | -232.84 | -6.21 | -36.43 |
| Financing | -119.96 | -393.34 | -396.83 | 352.01 |
| EPS (Baht) | 0.22 | 1.30 | 1.32 | 1.69 |
| GP Margin (%) | 35.87 | 29.08 | 29.45 | 38.93 |
| NP Margin (%) | 8.35 | 15.82 | 14.73 | 19.71 |
| D/E Ratio (x) | 0.18 | 0.24 | 0.18 | 0.53 |
| ROE (%) | 5.40 | 37.19 | 30.81 | 57.02 |
| ROA (%) | 5.56 | 34.53 | 28.97 | 40.28 |
- Rental / Leasing Medical Devices Project
Leasing Business for any brand’s medical devices, including medical devices for complex diseases. Hospitals and patients will have up-to-date devices for treatments. This will generate recurring income for SMD with a competitive advantage from the contract structure.
- Expand the business to wellness equipment for hospital, wellness, spa, and home use
Cooperate with hospitals, wellness, and spas to do the rental and revenue-sharing project. In the beginning, the project cooperated together will be Medical Grade air purification and mild hyperbaric oxygen chamber machine.
- Sleep Test Lab generates continuous revenue
Not only services revenues but also make opportunities for selling Respiration medical devices.
That delivering high-quality, modern medical equipment will contribute significantly to Thailand's public health system. Moreover, the Company is continually seeking new medical equipment innovations to enhance patient treatment efficiency and reduce the workload of doctors and medical staff. An example is the AI system for detecting lung cancer (Lung CA) from CT images.
Factors that affected company performance.
- Aging Society
The aged population increasing, resulting in the demand for sleep test services, CPAP, and medical devices for treatments of NCDs decease.
- Medical Tourism and Medical Hub
had a positive impact on increasing demand for medical devices which made for the treatment of complex diseases. In addition, the demand for wellness centers also increasing.
Saintmed Public Company Limited reported a net profit for Q3/2023 of THB 12.24 million, a decrease of 82.11% (YoY)
The decrease in net profit in Q3/2023 is from a lower in sales of general medical devices. These products are decreasing in demand (especially in COVID-19 ATK Test Kit) compared to Q3/2022 due to the change of Covid-19 which is less effect on health problems and resulted from the price war of Covid19 ATK Test Kit products in the B2C Market.
2023: Invested 100% of shares in the subsidiary company “Servehealth company limited”
2022: Increased registered capital to 112.35 MB for stock dividend payment.
2021: SMT dissolution
2021: SMD increased registered capital to 107 MB by issuing 54 M of new ordinary shares for IPO. Listed on mai and started trading on 17/06/21.
2020: Collaborated with Golden Jubilee Medical Center to provide sleep examination service. And registered as a public company.
1998 - 2004: 4 founders of SMD jointly established Saint Medical Co., Ltd. and Saint Medical Group Co., Ltd.
The risk from exchange rates
Medical devices must be imported from abroad and paid for in foreign currency. as a result, SMD is vulnerable to exchange rate fluctuations. If the Thai baht depreciation against the foreign currency, it may have a negative impact on SMD's operating results. However, SMD has the policy to manage risks by using forward contracts, monitoring, and assessing the situation of foreign exchange risk.
The risk of not extending the right to be a distributor of main products
The company diversifies the risk by distributing more than 30 brands of medical devices. This can lower the risk, and the company will negotiate earlier with the manufacturer if has some sign of not extending rights to be a distributor in any medical devices brands.
- Certificate of ESG Emerging Company for the year 2022
- 2021 Gold Service Channel
- Mindray 2021 Best Performance Award
- Golden Cooperator Award 2021
- 2020 Gold Service Channel from Mindray
- Best Performance Award 2020 from Mindray
| as of 29/09/23 | SMD | CONSUMP | mai |
|---|---|---|---|
| P/E (X) | 9.78 | 115.22 | 109.70 |
| P/BV (X) | 1.13 | 1.72 | 2.40 |
| Dividend yield (%) | 15.69 | 2.11 | 1.47 |
| 29/09/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 1,073.99 | 1,921.05 | 3,038.80 |
| Price (B/Share) | 4.78 | 8.55 | 14.20 |
| P/E (X) | 9.78 | 5.54 | 10.04 |
| P/BV (X) | 1.13 | 1.88 | 3.61 |
